How is that bad for the single Google et al. employee? That still leaves 10k+ a month for everything not housing-related, which is plenty. Outside of housing, SF isn't that expensive (groceries, for example, aren't ~7 times more expensive than the national median like houses are). I have a friend living in SF, making about that amount of money, with a stay-at-home wife and a kid, and they're quite comfortable despite a 7k+ monthly mortgage. This is bad for people who make <100k a year who may never be able to afford a home in San Francisco, especially as the prices keep rising.
I mean if we handwave away the mortgage. A 10k/month mortgage is a $1.4 million dollar house on only a 15 year mortgage. Push to the 30 year and you're at like $2.2 mil. Besides 2k/month after mortgage isn't so bad, I wish I knew what the median after taxes and rent/mortgage income is but I guarantee it's nowhere near that high and it comes with nowhere near as nice of a house.
A 7k+ monthly mortgage for a single-earner family is dangerous -- if you don't believe me, ask anyone who lived through any of the previous two downturns. Unfortunately you cannot just turn off a mortgage, nor can you guarantee your next job pays 250k.
